Twinkies Bankrupt! Apple Pie Next?

Twinkies Maker Preparing for Chapter 11 Filing

Hostess Brands Inc. is preparing to file for Chapter 11 bankruptcy protection as soon as this week, said people familiar with the matter, a move that would mark the second significant court restructuring for the Twinkies and Wonder Bread baker in the past several years.

The privately held Irving, Texas, company, which employs roughly 19,000 people and carries more than $860 million in debt, has been facing a cash squeeze amid high labor costs and rising prices for sugar, flour and other ingredients, according to people familiar with the matter. Those costs together have proved higher than the company's roughly $2.5 billion in annual sales, creating losses and cash shortfalls, the people said.

Read full article here:

http://online.wsj.com/article/SB10001424052970204124204577151211961572458.html

Also see:

Food Shortage USA

Debt Limit

And speaking of debt, check out this link:

Visualization of United States Debt

Why You Should Know More About Iceland

Why Iceland Should Be in the News, But Is Not


An Italian radio program's story about Iceland’s on-going revolution is a stunning example of how little our media tells us about the rest of the world. Americans may remember that at the start of the 2008 financial crisis, Iceland literally went bankrupt. The reasons were mentioned only in passing, and since then, this little-known member of the European Union fell back into oblivion.


As one European country after another fails or risks failing, imperiling the Euro, with repercussions for the entire world, the last thing the powers that be want is for Iceland to become an example. Here's why:


http://www.truth-out.org/why-iceland-should-be-news-not/1322327303